IRS Form 1120 "U.S. Corporation Income Tax Return"

This version of the form is not currently in use and is provided for reference only.
Download this version of IRS Form 1120 for the current year.

What Is Form 1120?

IRS Form 1120, U.S. Corporation Income Tax Return, is a form filed with the Internal Revenue Service (IRS) by domestic corporations to report their income, gains, losses, deductions, and credits, and to figure their income tax liability.

Alternate Name:

  • Corporation Tax Return.

The form was issued by the IRS and last revised in 2019. Corporations may use a fillable Form 1120 available below for download.

Who Files Form 1120?

Form 1120 must be filed by every domestic corporation (including those in bankruptcy), regardless of if the corporation has taxable income, except if the corporation is required, or elects to file a special return instead.

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IRS Form 1120 Instructions

The form must be signed and dated by the corporation's president, vice president, chief accounting officer, treasurer, assistant treasurer, or any corporate officer authorized to sign.

Corporations can electronically file Form 1120, as well as related forms, schedules, and attachments.

Generally, Form 1120 must be filed by the 15th day of the 4th month after the end of the corporation's tax year. The IRS provides separate Instructions for Form 1120. Please refer to them in order to learn about the specific due dates depending on your tax year. If the due date falls on a weekend or a legal holiday, the form may be filed on the next business day.

In cases of late filing, a penalty of 5% of the unpaid tax for the days the return is late will be applied, and the penalty may go up to a maximum of 25%. If the corporation can show that there is a reasonable cause behind the failure to file on time, the penalty will not be imposed.

How to Fill out Form 1120?

Please follow these steps to fill out the form:

  1. Item A. Identifying Information. Check the appropriate box and attach the applicable schedules and supporting statements.
  2. Item B. Employer Identification Number (EIN). Enter the corporation's EIN.
  3. Item C. Date incorporated. Enter the date of incorporation.
  4. Item D. Total Assets. Enter the corporation's total assets at the end of the tax year.
  5. Item E. Initial Return, Final Return, Name Change, Address Change. Check all that apply.
  6. Section 1. Income. Enter the income amounts on each line, as per the form instructions.
  7. Section 2. Deductions. Enter the appropriate corporation's costs, expenses, contributions, and other deductible amounts on each line.
  8. Section 3. Payments, Refundable Credits, and Section 965 Net Tax Liability. Enter the applicable tax, credits, and payment amounts on each line.

Where to Mail Form 1120?

Form 1120 must be filed to the applicable IRS address. Check on the IRS website if you need to file at the IRS Center in Cincinnati, OH; Ogden, UT; or Kansas City, MO.

IRS Form 1120 Schedules

  1. Schedule B (Form 1120), Additional Information for Schedule M-3 Filers. Filers of Schedule M-3 (Form 1120) use this schedule to provide answers to additional questions.
  2. Schedule D (Form 1120), Capital Gains and Losses, is used to estimate the overall gain or loss from transactions reported on Form 8949, as well as to report certain transactions not reported on Form 8949, and to report capital gain distributions not reported on Form 1120.
  3. Schedule G (Form 1120), Information on Certain Persons Owning the Corporation's Voting Stock, is used to provide information applicable to certain individuals, entities, and estates that own, directly, at least 20%, or own, directly or indirectly, at least 50% of the total voting power of a corporation's voting stock.
  4. Schedule H (Form 1120), Section 280H Limitations for a Personal Service Corporation (PSC), is used by PSCs to determine if they meet the minimum distribution requirement for the tax year, or to estimate the limits on deductions if the requirement were not met.
  5. Schedule M-3 (Form 1120), Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More, is filed to answer the corporation's financial statements questions and to reconcile financial statement net income (loss) for the corporation to the net and taxable income reported on Form 1120.
  6. Schedule N (Form 1120), Foreign Operations of U.S. Corporations, may be filed if the corporation had assets in or operated a business in a foreign country.
  7. Schedule O (Form 1120), Consent Plan and Apportionment Schedule for a Controlled Group, is used to consent to an apportionment plan and allocated income, taxes, or other items.
  8. Schedule PH (Form 1120), U.S. Personal Holding Company (PHC) Tax, is used by a personal holding company (PHC) to compute tax and is then filed with every PHC return.
  9. Schedule UTP (Form 1120), Uncertain Tax Position Statement, is used by corporations that issue or are included in audited financial statements and have assets equal or greater than $10 million to provide information on tax positions that affect their federal income tax liabilities.

IRS 1120 Related Forms:

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1120
U.S. Corporation Income Tax Return
OMB No. 1545-0123
2019
Form
For calendar year 2019 or tax year beginning
, 2019, ending
, 20
Department of the Treasury
Go to www.irs.gov/Form1120 for instructions and the latest information.
Internal Revenue Service
A Check if:
Name
B Employer identification number
1a
Consolidated return
(attach Form 851)
.
TYPE
Number, street, and room or suite no. If a P.O. box, see instructions.
C Date incorporated
b
Life/nonlife consoli-
OR
dated return .
.
.
PRINT
2
Personal holding co.
(attach Sch. PH) .
.
City or town, state or province, country, and ZIP or foreign postal code
D Total assets (see instructions)
3
Personal service corp.
$
(see instructions) .
.
4
E Check if: (1)
Initial return
(2)
Final return
(3)
Name change
(4)
Address change
Schedule M-3 attached
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Gross receipts or sales .
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Total income. Add lines 3 through 10
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Depreciation from Form 4562 not claimed on Form 1125-A or elsewhere on return (attach Form 4562) .
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Depletion .
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Total payments, credits, and section 965 net tax liability (Schedule J, Part III, line 23) .
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Estimated tax penalty. See instructions. Check if Form 2220 is attached
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Amount owed. If line 33 is smaller than the total of lines 31, 32, and 34, enter amount owed
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Overpayment. If line 33 is larger than the total of lines 31, 32, and 34, enter amount overpaid .
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Enter amount from line 36 you want: Credited to 2020 estimated tax
Refunded
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Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct,
Sign
and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
Here
with the preparer shown below?
See instructions.
Yes
No
Signature of officer
Date
Title
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
1120
For Paperwork Reduction Act Notice, see separate instructions.
Form
(2019)
Cat. No. 11450Q
1120
U.S. Corporation Income Tax Return
OMB No. 1545-0123
2019
Form
For calendar year 2019 or tax year beginning
, 2019, ending
, 20
Department of the Treasury
Go to www.irs.gov/Form1120 for instructions and the latest information.
Internal Revenue Service
A Check if:
Name
B Employer identification number
1a
Consolidated return
(attach Form 851)
.
TYPE
Number, street, and room or suite no. If a P.O. box, see instructions.
C Date incorporated
b
Life/nonlife consoli-
OR
dated return .
.
.
PRINT
2
Personal holding co.
(attach Sch. PH) .
.
City or town, state or province, country, and ZIP or foreign postal code
D Total assets (see instructions)
3
Personal service corp.
$
(see instructions) .
.
4
E Check if: (1)
Initial return
(2)
Final return
(3)
Name change
(4)
Address change
Schedule M-3 attached
1a
Gross receipts or sales .
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Compensation of officers (see instructions—attach Form 1125-E)
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Salaries and wages (less employment credits)
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Taxes and licenses
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Depreciation from Form 4562 not claimed on Form 1125-A or elsewhere on return (attach Form 4562) .
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Depletion .
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Advertising
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Reserved for future use .
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Total deductions. Add lines 12 through 26 .
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Taxable income before net operating loss deduction and special deductions. Subtract line 27 from line 11.
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Net operating loss deduction (see instructions) .
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b
Special deductions (Schedule C, line 24) .
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Taxable income. Subtract line 29c from line 28. See instructions
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Total tax (Schedule J, Part I, line 11) .
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2019 net 965 tax liability paid (Schedule J, Part II, line 12) .
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Total payments, credits, and section 965 net tax liability (Schedule J, Part III, line 23) .
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34
Estimated tax penalty. See instructions. Check if Form 2220 is attached
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34
35
Amount owed. If line 33 is smaller than the total of lines 31, 32, and 34, enter amount owed
35
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36
Overpayment. If line 33 is larger than the total of lines 31, 32, and 34, enter amount overpaid .
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36
37
Enter amount from line 36 you want: Credited to 2020 estimated tax
Refunded
37
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct,
Sign
and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
Here
with the preparer shown below?
See instructions.
Yes
No
Signature of officer
Date
Title
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
1120
For Paperwork Reduction Act Notice, see separate instructions.
Form
(2019)
Cat. No. 11450Q
2
Form 1120 (2019)
Page
Schedule C
Dividends, Inclusions, and Special Deductions (see
(a) Dividends and
(c) Special deductions
(b) %
instructions)
inclusions
(a) × (b)
1
Dividends from less-than-20%-owned domestic corporations (other than debt-financed
50
stock)
.
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2
Dividends from 20%-or-more-owned domestic corporations (other than debt-financed
65
stock)
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.
see
3
instructions
Dividends on certain debt-financed stock of domestic and foreign corporations
.
.
23.3
4
Dividends on certain preferred stock of less-than-20%-owned public utilities
.
.
.
26.7
5
Dividends on certain preferred stock of 20%-or-more-owned public utilities .
.
.
.
50
6
Dividends from less-than-20%-owned foreign corporations and certain FSCs .
.
.
65
7
Dividends from 20%-or-more-owned foreign corporations and certain FSCs
.
.
.
100
8
Dividends from wholly owned foreign subsidiaries
.
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.
see
instructions
9
Subtotal. Add lines 1 through 8. See instructions for limitations .
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.
10
Dividends from domestic corporations received by a small business investment
100
company operating under the Small Business Investment Act of 1958
.
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.
100
11
Dividends from affiliated group members .
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100
12
Dividends from certain FSCs
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13
Foreign-source portion of dividends received from a specified 10%-owned foreign
100
corporation (excluding hybrid dividends) (see instructions) .
.
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.
14
Dividends from foreign corporations not included on line 3, 6, 7, 8, 11, 12, or 13
(including any hybrid dividends) .
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.
see
15
instructions
Section 965(a) inclusion .
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.
16a
Subpart F inclusions derived from the sale by a controlled foreign corporation (CFC) of
the stock of a lower-tier foreign corporation treated as a dividend (attach Form(s) 5471)
100
(see instructions) .
.
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b
Subpart F inclusions derived from hybrid dividends of tiered corporations (attach Form(s)
5471) (see instructions)
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.
Other inclusions from CFCs under subpart F not included on line 15, 16a, 16b, or 17
c
(attach Form(s) 5471) (see instructions) .
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.
17
Global Intangible Low-Taxed Income (GILTI) (attach Form(s) 5471 and Form 8992) .
.
18
Gross-up for foreign taxes deemed paid .
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19
IC-DISC and former DISC dividends not included on line 1, 2, or 3
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20
Other dividends
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21
Deduction for dividends paid on certain preferred stock of public utilities
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22
Section 250 deduction (attach Form 8993)
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23
Total dividends and inclusions. Add column (a), lines 9 through 20. Enter here and on
page 1, line 4 .
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24
Total special deductions. Add column (c), lines 9 through 22. Enter here and on page 1, line 29b .
.
.
.
.
.
.
1120
Form
(2019)
3
Form 1120 (2019)
Page
Schedule J
Tax Computation and Payment (see instructions)
Part I–Tax Computation
1
Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)). See instructions
2
Income tax. See instructions
.
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2
3
3
Base erosion minimum tax amount (attach Form 8991) .
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4
Add lines 2 and 3 .
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4
5 a
Foreign tax credit (attach Form 1118) .
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5a
b
5b
Credit from Form 8834 (see instructions) .
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c
General business credit (attach Form 3800)
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.
5c
d
Credit for prior year minimum tax (attach Form 8827)
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.
5d
e
Bond credits from Form 8912
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5e
6
Total credits. Add lines 5a through 5e
6
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7
Subtract line 6 from line 4
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7
8
Personal holding company tax (attach Schedule PH (Form 1120)) .
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8
9 a
9a
Recapture of investment credit (attach Form 4255) .
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b
Recapture of low-income housing credit (attach Form 8611)
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.
9b
c
Interest due under the look-back method—completed long-term contracts (attach
9c
Form 8697) .
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d
Interest due under the look-back method—income forecast method (attach Form 8866)
9d
e
Alternative tax on qualifying shipping activities (attach Form 8902)
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.
9e
f
Other (see instructions—attach statement)
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9f
10
Total. Add lines 9a through 9f .
10
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11
Total tax. Add lines 7, 8, and 10. Enter here and on page 1, line 31 .
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.
.
11
Part II–Section 965 Payments (see instructions)
12
12
2019 net 965 tax liability paid from Form 965-B, Part II, column (k), line 3. Enter here and on page 1, line 32
.
.
Part III–Payments, Refundable Credits, and Section 965 Net Tax Liability
13
2018 overpayment credited to 2019
.
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13
14
14
2019 estimated tax payments
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.
15
2019 refund applied for on Form 4466 .
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15 (
)
16
Combine lines 13, 14, and 15
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16
17
Tax deposited with Form 7004 .
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17
18
18
Withholding (see instructions)
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19
Total payments. Add lines 16, 17, and 18
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19
20
Refundable credits from:
a
20a
Form 2439 .
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b
Form 4136 .
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.
20b
c
Form 8827, line 5c
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20c
d
20d
Other (attach statement—see instructions)
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21
Total credits. Add lines 20a through 20d .
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21
22
2019 net 965 tax liability from Form 965-B, Part I, column (d), line 3. See instructions .
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22
23
Total payments, credits, and section 965 net tax liability. Add lines 19, 21, and 22. Enter here and on page 1,
23
line 33 .
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.
1120
Form
(2019)
4
Form 1120 (2019)
Page
Schedule K
Other Information (see instructions)
Yes
No
1
Check accounting method: a
b
c
Other (specify)
Cash
Accrual
2
See the instructions and enter the:
a
Business activity code no.
b
Business activity
c
Product or service
3
Is the corporation a subsidiary in an affiliated group or a parent–subsidiary controlled group?
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.
If “Yes,” enter name and EIN of the parent corporation
4
At the end of the tax year:
a
Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt
organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the
corporation’s stock entitled to vote? If “Yes,” complete Part I of Schedule G (Form 1120) (attach Schedule G) .
.
.
.
.
.
b
Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all
classes of the corporation’s stock entitled to vote? If “Yes,” complete Part II of Schedule G (Form 1120) (attach Schedule G)
.
5
At the end of the tax year, did the corporation:
a
Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of
any foreign or domestic corporation not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instructions.
If “Yes,” complete (i) through (iv) below.
(ii) Employer
(iv) Percentage
(iii) Country of
(i) Name of Corporation
Identification Number
Owned in Voting
Incorporation
(if any)
Stock
b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in any foreign or domestic partnership
(including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions.
If “Yes,” complete (i) through (iv) below.
(ii) Employer
(iv) Maximum
(iii) Country of
(i) Name of Entity
Identification Number
Percentage Owned in
Organization
(if any)
Profit, Loss, or Capital
6
During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in
excess of the corporation’s current and accumulated earnings and profits? See sections 301 and 316 .
.
.
.
.
.
.
.
If “Yes,” file Form 5452, Corporate Report of Nondividend Distributions. See the instructions for Form 5452.
If this is a consolidated return, answer here for the parent corporation and on Form 851 for each subsidiary.
7
At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of the total voting power of all
classes of the corporation’s stock entitled to vote or at least 25% of the total value of all classes of the corporation’s stock?
.
For rules of attribution, see section 318. If “Yes,” enter:
(a) Percentage owned
and (b) Owner’s country
(c) The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign
Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached
8
Check this box if the corporation issued publicly offered debt instruments with original issue discount .
.
.
.
.
.
If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments.
9
Enter the amount of tax-exempt interest received or accrued during the tax year
$
10
Enter the number of shareholders at the end of the tax year (if 100 or fewer)
11
If the corporation has an NOL for the tax year and is electing to forego the carryback period, check here (see instructions)
If the corporation is filing a consolidated return, the statement required by Regulations section 1.1502-21(b)(3) must be attached
or the election will not be valid.
12
Enter the available NOL carryover from prior tax years (do not reduce it by any deduction reported on
page 1, line 29a.) .
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$
1120
Form
(2019)
5
Form 1120 (2019)
Page
Schedule K
Other Information (continued from page 4)
Yes
No
13
Are the corporation’s total receipts (page 1, line 1a, plus lines 4 through 10) for the tax year and its total assets at the end of the
tax year less than $250,000?
.
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.
.
If “Yes,” the corporation is not required to complete Schedules L, M-1, and M-2. Instead, enter the total amount of cash
distributions and the book value of property distributions (other than cash) made during the tax year
$
14
Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions
.
.
.
.
If “Yes,” complete and attach Schedule UTP.
15a
Did the corporation make any payments in 2019 that would require it to file Form(s) 1099?
.
.
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.
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.
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.
.
b
If “Yes,” did or will the corporation file required Form(s) 1099? .
.
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.
16
During this tax year, did the corporation have an 80%-or-more change in ownership, including a change due to redemption of its
own stock?
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.
17
During or subsequent to this tax year, but before the filing of this return, did the corporation dispose of more than 65% (by value)
of its assets in a taxable, non-taxable, or tax deferred transaction?
.
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.
18
Did the corporation receive assets in a section 351 transfer in which any of the transferred assets had a fair market basis or fair
market value of more than $1 million? .
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.
19
During the corporation’s tax year, did the corporation make any payments that would require it to file Forms 1042 and 1042-S
under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474) of the Code? .
.
.
.
.
.
.
.
20
Is the corporation operating on a cooperative basis?.
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.
21
During the tax year, did the corporation pay or accrue any interest or royalty for which the deduction is not allowed under section
267A? See instructions
.
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.
.
.
If “Yes,” enter the total amount of the disallowed deductions
$
22
Does the corporation have gross receipts of at least $500 million in any of the 3 preceding tax years? (See sections 59A(e)(2)
and (3)) .
.
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.
.
If “Yes,” complete and attach Form 8991.
23
Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in effect
during the tax year? See instructions .
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24
Does the corporation satisfy one or more of the following? See instructions .
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.
.
a
The corporation owns a pass-through entity with current, or prior year carryover, excess business interest expense.
b
The corporation’s aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the
current tax year are more than $26 million and the corporation has business interest expense.
c
The corporation is a tax shelter and the corporation has business interest expense.
If “Yes,” to any, complete and attach Form 8990.
25
Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? .
.
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.
.
.
.
.
.
.
.
.
.
If “Yes,” enter amount from Form 8996, line 14
.
.
.
.
$
1120
Form
(2019)
Page of 6